Conference Overview
Each government has the right to design its investment policies including incentives package regardless of other countries, considering the sovereignty of each country to design its policies to serve its development strategy and achieve economic objectives. This includes investment fiscal incentives. However, recent developments in international taxation lead by the OECD, in terms of introduction BEPS actions, particularly Action 1 (two pillars solutions), have significant impact on tax systems around the world. Pillar 1 will affect each country's taxing rights and, consequently bilateral and multilateral tax agreements. Further, Pillar 2 has introduced a global minimum tax (Globe). Such development raises the challenge of employing and designing investment tax incentives to stimulate investment. These challenges are international and they have impact on developed, and developing countries, including GCC countries.
The GCC countries are employing tax incentives as the most common type of government incentive to stimulate private sector investment and achieve economic diversification. Fiscal tax incentives, particularly tax incentives are the backbone of government incentives in GCC countries, considering the relatively less important role of tax revenue in government revenue, as governments are dependent on oil and gas revenue. In this context, investment tax incentives are concentrated in granting tax holidays to FDI investment whether it’s inshore or offshore investment. The global development in international taxation has raised challenges to: (1) design government investment incentives, (2) employ investment tax incentives to attract FDI, (3) future of tax competition, and (4) the future design of tax system which align with new international tax measures. Therefore, the 4th round of this conference will discuss these issues, by reviewing current practices in developed and developing countries, assessing possible areas that require examinations, and draft specific recommendations that help policymakers in GCC countries.
Key Dates and Times
Call for Abstracts Deadline
Conference Registration Begins